Tex. Loc. Gov't Code § 501.075

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 501.075 - Exemption From Taxation

(a) The activities of a corporation affect all the residents of the corporation's authorizing unit by the corporation's assuming to a material extent what otherwise might be an obligation or duty of the authorizing unit, and therefore the corporation is an institution of purely public charity within the tax exemption of Section 2, Article VIII, Texas Constitution.

(b) A corporation is exempt from the tax imposed by Chapter 171, Tax Code, only if the corporation is exempted by that chapter.

Tex. Loc. Gov't. Code § 501.075

Added by Acts 2007, 80th Leg., R.S., Ch. 885, Sec. 3.01, eff. 4/1/2009.